Abu Dhabi - Mubasher: The Abu Dhabi Department of Economic Development (ADDED) said that trade exchange between Abu Dhabi and Egypt amounted to AED 1.47 billion (EGP 7.25) last year, according to a press release.

The bilateral trade was distributed into nearly AED 460 million worth of Abu Dhabi’s imports from Egypt, and around AED 962 million as Abu Dhabi’s exports to Egypt, as well as AED 50.959 million as re-exports to Egypt as per data issued by Abu Dhabi Customs Administration.

On Saturday, the chairman of the ADDED, Ali Majed Al Mansoori, met with a delegation from Egypt headed by the chairman of the Egyptian Industrial Development Authority (IDA), Ahmed Abdel Razak, to promote collaboration between Abu Dhabi and Egypt in all economic sectors, particular industry and investments, as per the statement.

“Abu Dhabi needs to establish strategic partnerships with friendly countries such as Egypt to implement the goals and determinants of the Abu Dhabi 2030 Economic Vision which has defined a clear path for achieving the Emirate’s sustainable development by focusing on non-oil development projects which can be utilized by Egyptian investors,’’ said Al Mansoori.

The Egyptian delegation’s visit to Abu Dhabi comes in line with the Egyptian government’s dedication to promote channels of communication with Abu Dhabi, paving the way for promising investments that enhance the two countries’ economic ties, said Abdel Razak.

“The Egyptian government invites Abu Dhabi investors to benefit from the investment opportunities Egypt provides, particularly in industry and agriculture, as well as real estate and tourism which are the pillars of Egyptian economy,” he added.